Skip to main content

dreamstime_s_31111520

Revenue have issued the below information relating to tax treatment of Profit Sharing Schemes.  The exact details are highlighted in the Tax and Duty Manual Part 17-01-03 (Profit Sharing Schemes):

  1. In paragraph 7.9, which deals with the exchange of shares, held in an Approved Profit Sharing Scheme, for cash in a take-over situation, to clarify the time-frame for re-investing the payment in shares in the take-over company
  2. In Appendix 2, paragraph “Contributory Schemes – Carry forward of contributions”, to remove the condition which required the contributions to be fixed at the start of each year.

(Source:Revenue)

For regular tips, tricks and payroll updates, enter your email on our site, OR follow us on Twitter, Facebook, Google+, or LinkedIn

All the best,
The Team at Jefferson

Leave a Reply